Welcome to Broyhill's Equity Highlights, where we share a few quick takes on recent news across the portfolio every month.
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Engine Capital Goes Activist on Avantor. Engine Capital published a letter to the Board of Directors this week not only highlighting the potential value to a strategic buyer but suggesting a Board refresh, executive realignment, and a renewed focus on the business's cost structure.
Medical Supply Chains Begin to Normalize. Baxter is a major supplier of IV saline solution, a key medical product that has been in shortage status since Hurricane Helene damaged its North Carolina facility last fall. Baxter's plant has long been back online, but the FDA only recently announced that the shortage is now resolved.
NiCE Acquires Cognigy. NiCE announced its acquisition of Cognigy for just under a billion dollars to bolster its capability in building AI agents for its contact center software. The two companies are already partners, and the transaction should serve to further their integration with the added bonus of expanding NiCE's European footprint.
Any statements above reflect the views of Broyhill Asset Management, LLC as of the posting date and are subject to change. The information provided above is for informational purposes only and reflects publicly available news regarding certain companies that represent a subset of our total exposure to all of our portfolio companies at the time of posting. This information is not investment advice or a recommendation to buy or sell any security. Holdings and views expressed may not be current and are subject to change without notice. Please review our full disclosures for additional important information and disclosures.